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Essar Ports planning to invest in LNG

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LNG Industry,

According to multiple sources, Essar Ports is looking to set up a cluster of small and medium sized terminals for handling LNG on India’s west and east coasts to capitalise on the growing demand for the cleaner fuel.

The company, part of the Essar Group, which has interests in ports and shipping, has identified land on both the coasts and plans to come up with two terminals in the first phase and two in second phase, with capacities ranging from 2.5 million tpy to 5 million tpy.

The move is being considered partly as a hedge against the low iron ore exports due to high prices resulting in lower handling capacities.

Essar Ports is majorly involved in the development and operations of ports and terminals for handling liquid, dry bulk, break bulk and general cargo. On the West coast, it has operational terminals at Hazira and Salaya in Gujarat. On the East coast, it is present at Visakhapatnam and Paradip.

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